It will be one short week but far from calm for the financial markets, which will open on Tuesday 22 April, after the Easter break which will take place European stock exchanges closed on MondayThe agenda promises to be busy: in the foreground the macroeconomic data, the corporate meetings for the approval of the financial statements and, in the background, the tension on duties between United States e European Union, after President Trump opened – at least in his intentions – the door to a meeting with Brussels.
No less awaited, in Milan, the official opening of the dividend season, an important opportunity for investors after the recent market turbulence. The Italian banking game continues to dominate the stage with the case Unicredit, dopo the stop imposed by the Government with the activation of the Golden Power on the Ops on Banco Bpm: a move that has attracted criticism for the excessive rigidity of the constraints and for the contrast with the favorable opinions of the ECB and supervisory authorities. The attitude towards Bper, which received the green light for the acquisition of Banca Popolare di Sondrio, without intervention by Palazzo Chigi.
Monday: Wall Street reopens, eyes on the US Leading Index
Despite the Easter Monday leave the main European markets to rest – with Milan, Frankfurt, Paris and London closed for holidays – Wall Street we will be back in action soon. American investors will focus their attention on Leading Index March, one of the most closely watched indicators in this phase for its ability to anticipate, with a horizon of 3-6 months, the trend of the US economy. The data takes on a particular weight in a context marked by uncertainty, while in the background the risk of recession hovers.
In Asia, the climate remains tense: the Tokyo Stock Exchange opened the week with a decline (the Nikkei -1,3%), weighed down by the negotiations still open on the duties imposed by the Trump administration. There were also declines for Shanghai e Shenzhen, penalized by the uncertainty surrounding the future of trade relations between China and the United States. Hong Kong e Sydney remain closed for holidays, while the squares of are operational Toronto e Singapore.
Tuesday: Europe on trial after the break
With the reopening of the markets on Tuesday, in Europe we'll start getting serious right away. Milan, meanwhile, the official start of the dividend season: from Unicredit a Stellantis, seven big Ftse Mib stocks are paying dividends, offering investors interesting returns after weeks of high volatility.
The event is scheduled in GenoaErg assembly, called to approve the 2024 budget, define the allocation of the profit and appoint the new board of auditors. Same script in Carrara, where the shareholders of The Italian Sea Group They will meet to discuss the approval of the budget and the distribution of profits.
On the front macro, the Eurozone will provide preliminary data on April consumer confidence, a key indicator to take the pulse of household spending in a context of still uncertain inflation. From Washington, instead, the spotlight will be on International Monetary Fund World Economic Outlook, one of the most followed reports by the markets to map the state of health of the global economy. Following, at 16:15 Italian time, the day will end with the Presentation of the Global Financial Stability Report, which will take stock of the global financial system.
Wednesday: Season of budgets and assemblies
Wednesday will instead be dominated by listed companies, with the financial statement season in full swing. On the accounting front, the numbers of Bestbe Holding, Borgosesia, Eni, EssilorLuxottica, Itway and Saipem will arrive. On the shareholders' meeting side, many companies will bring together their shareholders: in Milan it will be the turn of Multiply Group, Amplifon and Fiera Milano; in Turin it will be the turn of Reply; in Brugine of Carel Industries; in San Giovanni in Marignano of Aeffe.
Thursday: the showdown on Generali
Thursday April 24th spotlight on Generali: I'shareholders' meeting will be called upon to express its opinion on the renewal of the board of directors. In the running is the list of Mediobanca, the main shareholder with over 13%, which is nominating the CEO Philippe Donnet and the president Andrea SironiThe role of the large funds, which hold approximately a third of the capital, is fundamental, while the positions of some key shareholders remain to be clarified, such as No., Edition e UnicreditThe challenge is being played on the edge of votes, with an expected turnout of around 70%. Caltagirone he explained in an interview with Sun 24 Hours that "the list presented is a minority one and does not suggest names for the governance of the company, but it is long enough to ask shareholders to block the ill-fated Natixis project". Also on Thursday, Banco Bpm to respond to Unicredit's takeover bid.
The press conference is also expected today Coop Alliance 3.0 for the presentation of the 2024 budget (at 12.00, in streaming), and several conference calls with the top management of Eni, Saipem e stm (in the latter case, the appointment is set for 9.30). There will also be space for meetings of Iren (in Piacenza), sapphire group (in Padua, at 10.00) and, on the board of directors front, operational meetings for BF, Next Re SIIQ e Sogefi.
Friday, IMF and World Bank: Last Call for Global Economy
The week will end on Friday with another important stage of the Spring Meetings of the International Monetary Fund and World BankThe day will open at 10:00 with the Press Briefing of the European Department and will close at 19.00:XNUMX, again in Washington, with the seventh ministerial round table in support of Ukraine, a strategic meeting among the most anticipated of the international political and economic week.
